The cross-chain asset protocol Universal Protocol announced its shutdown, having previously received $9 million in investments from a16z Crypto and others

The cross-chain asset protocol Universal has announced its shutdown. The protocol will continue to operate normally for the next 60 days, until November 17, 2026. Universal was launched two years ago to build Universal Assets (uAssets), bringing assets such as SOL, XRP, and DOGE into a new ecosystem, supported 1:1 by underlying assets, and has supported over 80 types of assets.

The team stated that the scale has not reached a long-term sustainable level, hence the decision to shut down. According to the tokenized asset data platform RootData, Universal announced last February that it had completed a $9 million financing round, led by a16z Crypto, with participation from Coinbase Ventures and others.